7 Years of Begging and Finally They See the Light

8 Jul

Livinglies's Weblog

Back in 2007-2008 I told the State of Arizona and other states that inquired, that they were owed a lot of money because of the failure to abide by state law regarding the recording of instruments. Taxes, fees, costs and expenses were never collected because of MERS and lesser known similar systems (See Chase Bank), resulting in billions of dollars in lost revenue while the same offices got inundated with low cost (Lis Pendens) filings when the mortgage loans turned up in foreclosure courts. And that was just in the State of Arizona. Think about 50 States. The counties and states were hit with an avalanche, 6 million so far, of foreclosures and had to hire more staff, more  judges and adopt questionable “rocket dockets” and incorrect interpretations of non-judicial statutory schemes.

The result, according to some studies was that the states lost money, the banks made money through dubious…

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